Chargeback options are meant to protect consumers, but shoppers also sometimes file claims over purchases they simply don’t recall or don’t want to pay for. It’s a problem that cost retailers $35 billion in 2019 alone. In the FI Fraud Decisioning Playbook, Mohamad Tayba, senior...
Card-not-present (CNP) transactions are rising as consumers lean heavily on digital channels to meet their needs during the ongoing pandemic. Fraudsters are eager to steal consumer card details and use them online, however, slipping their own criminal purchases in among the influx of legitimate digital...
Fraudsters and financial institutions (FIs) are constantly evolving to best each other, and growth in synthetic ID fraud is revealing that many banks must enhance their security measures to stay in the lead. Traditional fraud-fighting methods can fail to detect this subtle form of deception,...
Consumers want a speedy, Amazon-like experience when creating accounts with their banks, but keeping fraudsters from slipping in among genuine users can be a challenge. In the FI Fraud Decisioning Playbook, John Kelly, chief administrative officer at Pentagon Federal Credit Union, discusses why financial institutions...
September 10, 2020
Card-not-present (CNP) transactions are rising as consumers lean heavily on digital channels to meet their needs during the ongoing pandemic. Fraudsters are eager to steal consumer card details and use them online, however, slipping their own criminal purchases in among the influx of legitimate digital transactions. Financial institutions (FIs) therefore offer cardholders a critical safeguard: […]
July 24, 2020
Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in...
May 04, 2020
Financial institutions (FIs) face tough decisions when trying to keep their clients safe. Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online...
